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CHRISTIAN PURCHASING NETWORK ANNOUNCES YEAR END NET INCOME

 CHRISTIAN PURCHASING NETWORK ANNOUNCES YEAR END NET INCOME
 SARASOTA, Fla., March 10 /PRNewswire/ -- Christian Purchasing Network, Inc. (NASDAQ: CPNI), today announced the completion of the company's audit for the fiscal year ended Dec. 31, 1991, and reports net income for 1991 of $751,361, resulting in earnings per share of $.10. The company previously announced that it anticipated its net income for 1991 would be approximately $607,508, subject to adjustments as a result of the audit.
 Net income for the year ended Dec. 31, 1990 was $1,193,077 ($.231 per share).
 Thomas J. McElheny, the company's president, commented: "We are very pleased with the positive results in our first year as a public company in spite of the substantial costs involved in entering insurance and financial services."
 The results for the year ended 1991 primarily reflect the activities of two money management companies acquired by the company effective Aug. 15, 1991 (Equity Assets Management, Inc. and Jordan International Holdings, Inc., collectively the "Jordan Companies"), the acquisition of which was treated as a reverse acquisition for accounting purposes. As a result, the results for the year reflect the activities of the Jordan Companies through Aug. 15, 1991, and the combined operations of the Jordan Companies and the company for the period Aug. 15 through Dec. 31, 1991.
 The company offers capital goods to the church market, and financial and insurance products and services to church members.
 CHRISTIAN PURCHASING NETWORK, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Operations
 Year ended Dec. 31 1991 1990
 Revenues $2,347,852 $1,636,968
 Net income 751,361 1,193,077
 Earnings per share 0.102 0.231
 Weighted average shares
 outstanding 7,382,000 5,170,000
 -0- 3/10/92
 /CONTACT: Thomas J. McElheny, president and chief executive officer of Christian Purchasing Network, 813-366-5775/
 (CPNI) CO: Christian Purchasing Network, Inc. ST: Florida IN: FIN SU: ERN


TQ-OS -- NY004 -- 6688 03/10/92 07:45 EST
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Publication:PR Newswire
Date:Mar 10, 1992
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